Japan's economy set to rebound in Q2 despite global demand slowdown

Posted on August 14, 2023   |  

Japan's economy is anticipated to have experienced a growth of 3.1% annually in the April-June period, marking a third consecutive quarter of expansion.

The prior quarter saw an annualized growth of 2.7%, while on a quarter-to-quarter basis, an estimated expansion of 0.8% is projected.

In the April-June interval, external demand is forecasted to add 0.9% to the gross domestic product (GDP) growth, countering the 0.3% deduction observed in the initial three months of the year.

Overall, Japan's economy seems to be navigating the challenges of a globally evolving landscape with a resilient and steady recovery, as indicated by the Reuters poll results.